Keep pulling the thread on Jeremy Grantham.
A recurring pattern at the peak of major market bubbles, seen in 1929, 1972, 2000, and 2021, is that speculative, high-flying stocks begin to decline while blue-chip stocks continue to rise.
Goldman Sachs, under then-CEO Jon Corzine, attempted to acquire GMO to establish a quantitative investment division.
If GMO had accepted the acquisition offer from Goldman Sachs, its partners would have become the largest selling stockholders in Goldman's IPO.
GMO generated positive returns in 2000, 2001, and 2002, achieving a cumulative return of approximately 35% while the broader market declined by 50%.
The 1.5% of GDP in extra capital expenditures related to AI prevented a U.S. recession in 2023.
Jeremy Grantham believes AI is a technological development as significant as the railroads in the 19th century and will be viewed by historians as one of the defining technologies of its era.
The bubble in AI is not in the P/E ratios of stocks like NVIDIA, but in the massive capital expenditure on expensive AI chips by companies that have not yet generated a profit from them.
An estimated 25% of global GDP growth since 2000 has been dedicated to preparing for or repairing climate-related damage.
The number of 20-year-olds entering the Japanese workforce is now 50% of what it was at its peak in 1948.
Elon Musk has predicted that by 2027, he will be selling humanoid robots to households.
Jeremy Grantham predicts that energy costs will eventually fall to 10% of today's levels, likely within 12 to 20 years.
By 2010, U.S. stock market prices were in the top 5% of valuations compared to the previous 100 years.